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Microsoft restricts crypto mining on its cloud

Microsoft

TL;DR Breakdown

  • Microsoft bans mining on its cloud
  • The company wants users to get approval before mining
  • Crypto winter is affecting physical miners

Microsoft has announced that it has banned the usage of its cloud services for crypto mining purposes. The computing giant mentioned that the decision was taken to ensure more stability of the services. The enforcement will ensure that crypto mining and other related activities will no longer the allowed on the cloud. According to the report by The Register, the company cited security on the part of its customers, among other related reasons.

Microsoft wants users to get approval before mining

This new update was shared in the universal license terms that Microsoft released. In the update released early this month, Microsoft announced that users are no longer allowed to use the service for mining purposes without prior approval from the firm. Another section of the update mentioned that users who intend to leverage its services for crypto mining purposes must first submit a written request to the company and ensure they get approval for such services before proceeding. The company also said that the new update would curb crimes like fraud, cyber attacks, and unauthorized user data access. However, the company mentioned that it is looking at allowing security outfits to mine and research using cloud services.

Crypto winter is affecting physical miners

Microsoft has been a household name in the computing industry over the past years. Some of the firm’s cloud services include allowing crypto mining on its Microsoft Azure network. However, users need to be on a subscription to be able to use the services. Reports also indicate that the company tried to create a blockchain but had the program shut down some months ago. With this new update, Microsoft will join the same bandwagon as others in banning this service. Another notable company in the fold is Google, which has forbidden mining on its cloud without a permit.

Oracle and Digital Ocean are some of them. Cloud mining is a mining method where users use shared computing power. This way, they eliminate the use of physical mining equipment. The technique is very profitable as users do not need to own equipment or pay other costs. This news is coming off the back of several bearish runs that the market has made in the last few months. Miners using equipment are presently in deep waters, with some dropping out due to insufficient funds to carry out their operations.

The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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